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MarketScreener Homepage  >  Equities  >  KARACHI STOCK EXCHANGE (GUARANTEE) LIMITED, THE  >  Pakistan Petroleum Ltd.    PPL   PK0081801018

PAKISTAN PETROLEUM LTD.

(PPL)
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Pak PetroleumXDXB : PPL discovers gas at its exploration well in Sujawal

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12/07/2018 | 01:40am EST

Pakistan Petroleum Limited (PPL) has made a gas discovery at its exploration well Benari X-1 (ST-2) located in Sujawal, Sindh.

The discovery will add additional hydrocarbon reserves and also enable the energy sector to reduce the gap between supply and demand of oil and gas during the current energy crisis in the country, said a press release issued here on Thursday.

The operator of the Block 2467-16 (Shah Bandar) EL with 63% working interest (WI) along with its joint venture partners Mari Petroleum Company Limited (MPCL) with 32% WI, while Sindh Energy Holding Company Limited (SEHCL) and Government Holdings Private Limited (GHPL) with 2.5% WI each made the discovery.

Exploration well Benari X-1 (ST-2) was spudded-in on May 22 and drilled to a depth of 3,470m to test the hydrocarbon potential of Lower Goru Formation. Based on wire line logs, potential hydrocarbon bearing zones were identified inside target reservoir. Drill Stem Testing in A-Sand Unit of Upper Sand, Lower Goru Formation flowed 9.05 million cubic feet per day of gas at Flowing Well Head Pressure of 855 psi on 48/64' choke.

© Pakistan Press International, source Asianet-Pakistan

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Financials (PKR)
Sales 2019 154 B
EBIT 2019 68 369 M
Net income 2019 56 297 M
Debt 2019 -
Yield 2019 5,67%
P/E ratio 2019 7,46
P/E ratio 2020 7,33
Capi. / Sales 2019 2,78x
Capi. / Sales 2020 2,60x
Capitalization 429 B
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 202  PKR
Spread / Average Target 6,8%
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Managers
NameTitle
Moin Raza Khan Chief Executive Officer & Managing Director
Salman Akhtar Chairman
Syed Ehtesham Ahmad Chief Financial Officer
Mohammad Ahmed Kauser General Manager-Information Technology
Muhammad Sajid Farooqi Independent Non-Executive Director
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